67,692 Shares in Vulcan Materials Company $VMC Bought by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management acquired 67,692 shares of Vulcan Materials in the second quarter, worth approximately $19.97 million. Institutional investors collectively own 90.39% of the company.
• Vulcan Materials reported quarterly EPS of $2.59, exceeding analyst estimates of $2.46, while revenue rose 2.5% year over year to $2.16 billion.
• The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $327.93.

Tocqueville Asset Management L.P. acquired a new stake in shares of Vulcan Materials Company (NYSE:VMC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,692 shares of the construction company's stock, valued at approximately $19,970,000. Tocqueville Asset Management L.P. owned 0.05% of Vulcan Materials as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VMC. Atria Investments Inc raised its stake in Vulcan Materials by 54.1% in the fourth quarter. Atria Investments Inc now owns 12,334 shares of the construction company's stock valued at $3,518,000 after purchasing an additional 4,331 shares in the last quarter. SCS Capital Management LLC purchased a new position in Vulcan Materials in the 2nd quarter worth approximately $19,628,000. Westfield Capital Management Co. LP grew its stake in Vulcan Materials by 7.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company's stock worth $72,459,000 after buying an additional 17,488 shares in the last quarter. North Dakota State Investment Board bought a new position in shares of Vulcan Materials in the 4th quarter worth $1,293,000. Finally, Myriad Asset Management Advisors LLC bought a new position in shares of Vulcan Materials in the 4th quarter worth $3,229,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 1.8%

VMC stock opened at $276.49 on Thursday. The company has a market capitalization of $35.83 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 1.76. Vulcan Materials Company has a one year low of $252.35 and a one year high of $331.09. The company's 50 day moving average price is $289.60 and its two-hundred day moving average price is $287.91.

Vulcan Materials (NYSE:VMC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.46 by $0.13. Vulcan Materials had a net margin of 13.75% and a return on equity of 13.05%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The firm's revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that Vulcan Materials Company will post 9.29 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, August 13th. Vulcan Materials's dividend payout ratio is presently 24.56%.

Insider Transactions at Vulcan Materials

In other news, SVP David P. Clement sold 2,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $285.10, for a total transaction of $570,200.00. Following the transaction, the senior vice president directly owned 6,716 shares of the company's stock, valued at approximately $1,914,731.60. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Vulcan Materials from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. Wells Fargo & Company lowered their price target on Vulcan Materials from $310.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Berenberg Bank set a $283.00 price target on Vulcan Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. Citigroup dropped their price target on Vulcan Materials from $355.00 to $350.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Vulcan Materials in a report on Tuesday, July 7th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $327.93.

Vulcan Materials Profile

Vulcan Materials Company NYSE: VMC is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company's primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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